Idaho Housing Agency Says Two Programs May Close Due to Tax Reform

Friday, November 17, 2017 - 10:00am

The Idaho Housing and Finance Association (IHFA) Thursday announced that two programs may close at the end of the year if tax reform legislation being considered by Congress results in the elimination of tax-exempt status for private activity bonds (PABs). If the legislation repeals the tax-exempt status for PABs, the Mortgage Credit Certificate will be available on loans closed no later than Dec. 31 and all loans reserved for the First Loan program before Nov. 14 must be delivered to IHFA no later than Dec. 11, which will allow the department to deliver the tax-exempt loans under that program. The IHFA announcement said an update will be provided when the final outcome of the legislation is known.